Public Employees Retirement System of Ohio Has $3.50 Million Stake in StepStone Group LP (NASDAQ:STEP)

Public Employees Retirement System of Ohio reduced its stake in shares of StepStone Group LP (NASDAQ:STEP) by 30.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,597 shares of the company’s stock after selling 26,752 shares during the quarter. Public Employees Retirement System of Ohio owned 0.06% of StepStone Group worth $3,501,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of StepStone Group by 3.7% in the 3rd quarter. FMR LLC now owns 3,999,819 shares of the company’s stock worth $227,310,000 after purchasing an additional 141,637 shares during the last quarter. State Street Corp boosted its position in StepStone Group by 12.4% in the third quarter. State Street Corp now owns 2,401,034 shares of the company’s stock valued at $136,451,000 after buying an additional 265,240 shares in the last quarter. Bank of New York Mellon Corp grew its stake in StepStone Group by 25.3% during the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock worth $51,185,000 after buying an additional 225,201 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of StepStone Group by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company’s stock worth $36,753,000 after buying an additional 60,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of StepStone Group by 16.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 596,851 shares of the company’s stock valued at $33,919,000 after acquiring an additional 84,762 shares during the last quarter. 55.54% of the stock is owned by institutional investors.

StepStone Group Trading Down 0.1 %

StepStone Group stock opened at $61.95 on Monday. StepStone Group LP has a 1 year low of $28.35 and a 1 year high of $70.38. The company’s 50-day moving average is $62.76 and its two-hundred day moving average is $54.26. The company has a market cap of $7.13 billion, a PE ratio of 103.25 and a beta of 1.27.

StepStone Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.24 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.55%. StepStone Group’s payout ratio is presently 160.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Oppenheimer raised their price target on StepStone Group from $73.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday. Barclays lowered their target price on StepStone Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Morgan Stanley upped their price target on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, UBS Group upped their target price on shares of StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $66.64.

Insiders Place Their Bets

In other StepStone Group news, CEO Scott W. Hart sold 22,091 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $63.24, for a total transaction of $1,397,034.84. Following the transaction, the chief executive officer now owns 157,909 shares in the company, valued at approximately $9,986,165.16. This trade represents a 12.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Anthony Keathley sold 729 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the sale, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. This trade represents a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,820 shares of company stock valued at $1,908,856. Company insiders own 18.44% of the company’s stock.

StepStone Group Profile

StepStone Group Inc is a private equity and venture capital firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in private debt, venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, buyout investments in mature and middle market companies.